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Mark Lewton Hopkins formerly with American Portfolios Financial Services, Inc. Has 2 Customer Complaints For Alleged Broker Misconduct In the Past 2 Years

Who is Mark L. Hopkins formerly with American Portfolios Financial Services, Inc.?

Mark Hopkins (CRD #2653473) who was formerly registered with American Portfolios Financial Services, Inc. and located in Grand Blanc, Michigan is a subject of one of our many securities industry sales practice abuse investigations. Prior to American Portfolios Financial Services, Inc., Mark Hopkins was associated with 3 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Mark Hopkins has his own share of regulatory problems as well. 

In November 2019, the Michigan securities division alleged that he made misrepresentations and omissions in connection with an investment in a credit union an account over which the customer had no ownership interest whatsoever. 

This was followed by a FINRA investigation where Mark Hopkins refused to cooperate in accordance with Rule 8210 and consequently permanently barred from any further association with any member firm in the securities industry. 

Shortly thereafter, the SEC filed a complaint against Mark Hopkins alleging that he misappropriated at least $1.15 million from at least 5 customers of the brokerage firm. According to the SEC, Mark Hopkins represented that he would invest their funds and investment program at a local credit union, when in actuality no such program existed. Further, that he deposited the investors funds into an account he controlled and that the credit union misappropriated them.

American Portfolios Financial Services, Inc. Broker Misconduct

In his career, Mark Hopkins has been the subject of 3 customer complaints that we know about, 2 of those complaints were filed in the last 2 years to recover investment losses. One of Mark Hopkins’ 3 customer complaints was settled in favor of investors. There is currently one pending customer complaint filed against Mark Hopkins’ former employer American Portfolios Financial Services, Inc. for investment losses caused by his alleged misconduct.

Allegations Against Mark Hopkins

A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:

  • Customer alleged that mark options solicited $500,000 from him for the credit union investment and instead utilized the funds for his own purposes.
  • Customer alleged that recommendation to invest in a REIT was an unsuitable investment recommendation.
  • Claimant alleged that mark Hopkins solicited $400,000 for an investment away from the broker-dealer at a credit union.

Mark Hopkins Red Flags & Your Rights As An Investor

Of course, Mark Hopkins did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Mark Hopkins at American Portfolios Financial Services, Inc. on alert to review carefully the activity and performance of their accounts and question whether Mark Hopkins has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at American Portfolios Financial Services, Inc. also raises questions about supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At American Portfolios Financial Services, Inc.

If you have questions about American Portfolios Financial Services, Inc. and/or Mark Hopkins and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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